Sole Proprietorship: Given that the identify implies, a sole proprietorship is owned and operated by only one particular person. There isn't any legal separation between the business and the operator, which means the tax and lawful liabilities with the business would be the obligation with the operator. Solution demos: https://zionszdil.theideasblog.com/37580886/5-simple-statements-about-no-sale-profit-system-order-explained